The National Bank for Agriculture and Rural Development (Nabard) has asked State Cooperative Banks (SCBs) to prepare a roadmap that would enable all primary agriculture cooperative societies (PACS) in Maharashtra to have direct access to banking services through the district central cooperative bank (DCCB) network.

Nabard asks SCBs to prepare a roadmap for financial inclusion

Business Standard

Intel Capital, IBM, SAP Venture, Qualcomm Ventures increase India focus.

Corporate VCs step on the gas

JP Morgan Chase is set to enter the corporate banking space in India, offering a suite of services such as providing working capital, cash management solutions, foreign exchange and hedging tools. There will also be an element of retail operations, though liability-led, and financial inclusion.

JP Morgan lines up corporate banking foray in India

Banks beat RBI&rsquo;s estimate of 16 per cent credit growth for the year.

Credit growth zooms in last fortnight of 2009-10

The National Bank for Agriculture and Rural Development (Nabard) has released Rs 1,008 crore towards recapitalisation assistance to 3,200 primary agriculture credit societies (PACS) in the state, based on the assurance given by the state government that it would introduce cooperative reforms as suggested by the Vaidyanathan Committee.

PACS get Rs 1008 crore Nabard aid

A Reserve Bank panel has suggested doubling the limit of collateral-free loans to Rs 10 lakh for micro and small enterprises (MSEs) and easing credit flow to them.

Double limit of collateral-free loans to small units: RBI panel

Press Trust of India

Kolkata-based LSI Financial Services , which got Securities and Exchange Board of India (Sebi) licence for merchant banking operations last year, is eying 20 per cent growth in business in the present financial year.

LSI Financial eyes 20% growth

Focusing on financial inclusion Dena Bank has proposed to open 150 new branches across the country this fiscal, a top official said here today.

Dena Bank to open 150 branches in India this fiscal

The UK financial regulator has imposed a fine of 4.2 million pounds on three entities, including Swiss banking major Credit Suisse, for failing to provide accurate trade transaction reports.

UK fines Credit Suisse, others 4.2 mn pound

United Bank of India (UBI) today said it is focusing on lending to agriculture and SME sectors with special emphasis on the target group constituting small and marginal farmers, artisans, SC/ST borrowers, women and minority communities.

UBI puts thrust on agriculture, SMEs: CMD

The National Insurance VimoSEWA Cooperative Ltd, promoted by the Self-Employed Women's Association, (SEWA), is assisting the government of Namibia, southern Africa to set up microfinance in .

VimoSEWA assists Namibia develop microinsurance

The National Housing Bank (NHB) is in talks with a US-based insurance company to set up a Mortgage Guarantee Company which will provide credit guarantees to housing finance companies and commercial banks on behalf of clients seeking housing loans.

NHB to form mortgage guarantee firm with foreign insurer

Asks Centre, RBI to file its views by June.

Kerala HC lifts stay on Islamic banking, says no to govt role

The first quarter of the current financial year has started on a promising note for banks.

Banks breathe easy as bond yields may stay range-bound

Investment bankers managing the Standard Chartered IDR (Indian Depository Receipts) issue have sought clarity from the market regulator on the amount of margin payment by institutional investors.

StanChart bankers seek clarity on QIB margin in IDR

Charles O &ldquo;Chuck&rdquo; Prince and Robert Rubin, Citigroup Inc&rsquo;s former leaders, face a grilling by the Financial Crisis Inquiry Commission today on why they didn&rsquo;t foresee the housing collapse and its record losses.

Citi ex-chiefs Prince, Rubin face grilling on loan losses

The aggregate deposits of various banks in Gujarat have increased by 13.55 per cent for the quarter ended December 2009, while advances by banks have registered year-on-year growth of 13.30 per cent in the third quarter of fiscal 2009-10.
As per the data compiled by the State Level Bankers' Committee (SLBC)-Gujarat, the total deposits of the banks in the state have increased by 13.55 per cent to Rs 2,10,738 crore during the quarter ended December 2009 from 1,85,590 crore during the quarter ended December 2008.
However, the deposits have surged by only 2.15 per cent or Rs 4,437 crore from Rs 2,06,301 crore of deposits registered in the quarter ended September 2009. The non-resident Indians (NRIs) deposits increased by Rs 102 crore at Rs 22,360 crore forming 10.61 per cent of the total deposits registered as on December 2009.
During the quarter under review, Gujarat State Cooperative Agriculture and Rural Development Bank Limited (GSCARDB) registered the highest growth of 17.24 per

Bank deposits in Gujarat grow by 13.55% in Q3

Kerala-based Federal Bank today launched its Portfolio Investment (PIS) Scheme for NRIs in tie up with Geojit BNP Paribas Financial Services Ltd, offering &quot;hassle free&quot; facilities for investments in stock market.

Federal Bank launches portfolio investment scheme for NRIs

Major American banks, including Citigroup and Goldman Sachs, temporarily lowered their debt in the past five quarters before reporting it to the public in order to mask risk levels, says a media report.

US banks temporarily reduced debt levels to mask risks: WSJ

Reliance Mutual Fund (MF) today said it has tied-up with Financial Planning Standards Board India (FPSB India) to train the latter's channel partners to become certified financial planner professionals.

Reliance MF, FPSB India tie up to provide training

The government today said rupee appreciation has not been &quot;that sharp&quot; as to hurt Indian exports, rebuffing exporters' claims that there was a need to curtail FII inflows into the economy, which are largely responsible for the appreciation against the dollar.

Rupee rise not to create problems for exports: Comm Secy

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